Woodie’s Trading Secrets

Secret to success in trading is “simplicity”, far to many traders get caught up in the more is better syndrome. By this I mean information overload in various ways. to many indicators, to many newsletters etc. To eliminate this keep it simple be able to react without adding outside pressures.

Attitude, far too many start trading with the wrong attitude, trading is easy, I’ll make my millions by tomorrow and very fast learn that this is not so. secret here is to have any open mind, Understand your up against the sharpest traders in the world from the banks and intuitions andprofessional tradersespecially in the index futures arena.

Due your due diligence, put time in to learn before going live. Why do you think your $500 PC and you can compete with the biggest fastest computers there are if you are not prepared. You must do the things that allow you to survive and make a go at trading. Due Diligence is a secret.

Bias and over coming it, very hard to do but a big discipline that successful traders have mastered, this can be and area where you learn to have a trading plan and trade that plan, forget what the talking heads say, stay with a time tested trading plan. Far too many traders ask me “where do you think the market is going” and my answer is I really don’t care as a trader as long as it moves one way or the other.

I think this statement sums it all up, I say this over and over again to traders I help and mentor “toPREDICT is the SLAVES, to REACT is the KINGS” ….think about it….